Gunners 'can't compete' on transfers - Hill-Wood

Arsenal chairman Peter Hill-Wood has admitted the club "can't compete" in the transfer market with their top-four rivals.

But Hill-Wood was confident the Gunners would mount a serious title challenge this season and insisted the board were not worried about Arsene Wenger's failure to win a trophy for seven years. The Arsenal chairman also said he was "disgusted" by those fans who abused manager Wenger last season as the club once again came up short. Hill-Wood told the Evening Standard: "Arsene has money to spend but there's a limit. We can't spend £50million on one player. "At a certain level, we can't compete. I don't think [majority shareholder] Stan Kroenke is going to put the sort of dollars in that [Roman] Abramovich or Sheikh Mansour are putting into Chelsea or Manchester City. That's not the way he thinks clubs should be run. "Luckily, Arsene understands that. He got an economics degree from Strasbourg University so he's certainly no fool. He knows how a club should be run. That annoys a lot of people but clubs have to be sustainable. We're not going to go bankrupt in the way one or two other well-known clubs have."